Nearly one hundred community members turned out on a sparking Saturday morning to hear organizational plans for a new co-op -- one whose objective will be to acquire of the city-owned telecommunications utility.

But they were thrilled nonetheless to see the size of the crowd show up the first membership meeting of the proposed KeepBTLocal Co-op, and say about four hundred more have signaled interest.

"What concerns me most is can we put together a detailed business plan that shows this proposal we're about to put forth is financially viable," Loredo Sola, a Co-op member and Burlington Telecom customer said. "I absolutely believe that will happen."

The co-op aims to demonstrate broad community support and the ability to raise capital. It must also attract sufficient technical expertise to persuade the state Public Service Board it could operate the utility in the public good.

Many members believe BT has strong upside growth potential despite the fact it is mired in debt and has managed to sign up only 25 percent of its total potential customer base in Burlington.

They see the city-owned utility as perhaps the most advanced in the state, delivering super high speed internet, telephone and cable TV service through an advanced fiber optic network.

Burlington Telecom is, however, still battling a federal lawsuit filed by CitiCapital, its chief creditor, whose $33 million financed construction. The city cancelled its equipment lease with CitiCapital but hasn't returned the equipment.

Settlement talks are believed to be ongoing, in secret.

If that's resolved, the city would also have to be willing to sell the utility.

"This is a business that can make some money," said Co-op organizer Alan Matson. "Let's keep it local instead of sending it out to a national company."

The co-op membership will begin voting for its first board of directors starting next weekend.